In the fiscal year 2023, FirstCry experienced a substantial increase in net losses, soaring over 500% to INR 486 crore, compared to INR 78.6 crore in the preceding fiscal year. Notably, the startup had achieved a net profit of INR 215.9 crore in FY21.
Despite the significant losses, FirstCry recorded sales exceeding INR 5,000 crore during the reviewed year. Operating revenue witnessed a remarkable growth of 135%, reaching INR 5,632.5 crore in FY23, up from INR 2,401.2 crore in the previous fiscal year. The primary source of revenue for the company is the sale of baby care products.
When considering other income, the total income for FY23 amounted to INR 5,731.2 crore, reflecting a substantial surge of 127.7% from INR 2,516.9 crore in FY22.
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